India's role in easing fragmentation of global trade amid US-China tensions

Considering India's merchandise exports, the US is still our largest partner. But, it is India's imports that have solidified China as a significant trading partner

Recent moves by central banks to increase the gold component in their foreign exchange reserves, along with efforts by countries like China and India to internationalise their local currencies, and the recent US move to slap tariff hike on Chinese electric vehicles and other products, are intensifying the fragmentation of international trade and driving up its costs.  

Some believe that the world is witnessing initial signs of the Cold War in terms of trade fragmentation. If that’s the case, what role can India, as one of the leaders of the former non-aligned movement, play in reducing the costs